Fortis Advisors LLC Grows Stock Position in Citigroup Inc. (NYSE:C)

Fortis Advisors LLC grew its position in shares of Citigroup Inc. (NYSE:C) by 22.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,500 shares of the company’s stock after purchasing an additional 1,350 shares during the period. Fortis Advisors LLC’s holdings in Citigroup were worth $528,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup during the 3rd quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup in the 2nd quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup during the 3rd quarter valued at approximately $31,000. GHP Investment Advisors Inc. lifted its stake in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after purchasing an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in Citigroup by 69.3% during the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of NYSE:C opened at $72.94 on Tuesday. The company’s fifty day moving average is $70.40 and its two-hundred day moving average is $65.15. The company has a market cap of $137.95 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. Citigroup Inc. has a 12-month low of $50.51 and a 12-month high of $74.29. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the prior year, the business earned $1.52 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.07%. Citigroup’s dividend payout ratio is presently 64.93%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on C shares. Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Truist Financial initiated coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. Morgan Stanley reduced their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.13.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.